What we verified from this filing16 verified
- secured creditorsnote: Post-filing DIP financing charge, not a pre-filing secured claim; objecting secured creditor (2815793 Alberta Ltd./SPDI) alleges Interim Lender is not at arm's length - directors Michael Khorassani and Jacques Demers were then directors of the DIP LenderCo (2815793 Alberta Ltd.); related party concern raised · page: 3 · as of: 2026-08-07 · debtor: AdvEn Inc. and AdvEn Industries Inc. · creditor: 2841034 Alberta Ltd. (Interim Lender) · currency: USD · security: Proposed Interim Lender's Charge over Property, third priority, to secure obligations under Interim Financing Agreement up to maximum US$650,000
- financial positionnote: Primary asset is property, plant and equipment of approximately $8.8 million (lab equipment, production equipment, computer and office equipment, leasehold improvements, assets under construction, customized production equipment); figures are book value, not audited · page: 8 · as at: 2025-12-31 · basis: unaudited financial statements · scope: AdvEn Inc. (entity level; AdvEn Industries Inc. is wholly owned subsidiary) · currency: CAD · total assets: 11400000 · total liabilities: 27100000
- unsecured creditorsnote: Total obligations owed to AdvEn's creditors including creditors with balances of $250 or less; document names no individual creditors in this aggregate figure · page: 8 · as of: NOI filing date (Filing Date, July 20, 2026) · basis: Companies' creditor listings as of the Filing Date · amount: 19500000 · debtor: AdvEn Inc. · creditor: AdvEn Inc. creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Total obligations owed to AdvEn Industries' creditors including creditors with balances of $250 or less; document names no individual creditors in this aggregate figure · page: 8 · as of: NOI filing date (Filing Date, July 20, 2026) · basis: Companies' creditor listings as of the Filing Date · amount: 3800000 · debtor: AdvEn Industries Inc. · creditor: AdvEn Industries Inc. creditors (aggregate as reported) · currency: CAD
- secured creditorsnote: Both SPDI Notes have matured; amount is aggregate outstanding including accrued and unpaid interest as of April 30, 2026; security validity/enforceability under Proposal Trustee review · page: 9 · as of: 2026-04-30 · amount: 800000 · debtor: AdvEn Industries Inc. · creditor: Secure Property Development & Investment Plc (SPDI) · currency: CAD · security: Two General Security Agreements dated August 5, 2025 and November 2025 over all present and after-acquired personal property of AdvEn Industries, excluding intellectual property; secured promissory notes in aggregate principal amount of €500,000
- secured creditorsnote: Note due December 18, 2026; amount is aggregate outstanding including accrued and unpaid interest as of April 30, 2026; security validity/enforceability under Proposal Trustee review · page: 9 · as of: 2026-04-30 · amount: 900000 · debtor: AdvEn Inc. and AdvEn Industries Inc. · creditor: Excelsior Management Limited · currency: CAD · security: General Security Agreements dated for reference December 18, 2025 over all present and after-acquired personal property of the Companies, excluding intellectual property; secured convertible promissory note principal amount £450,000
- secured creditorsnote: All Convertible Notes have matured and AdvEn is in default; certain noteholders entered extension/amendment agreements in 2025 which have also matured; amount is aggregate outstanding including accrued interest and penalties as of April 30, 2026 · page: 10 · as of: 2026-04-30 · amount: 10500000 · debtor: AdvEn Inc. (including through predecessor Nano Innovations Inc.) · creditor: Convertible Noteholders (various investors, 10% senior secured convertible promissory notes) · currency: CAD · security: Series of 10% senior secured convertible promissory notes; approximately US$4 million raised between December 2021 and September 2022; any security pledged is subject to Proposal Trustee's security review
- secured creditorsnote: Listed under 'Other Unsecured Noteholders' heading in document despite note being described as secured; note matured June 30, 2026; amount is aggregate outstanding including accrued interest and penalties as of April 30, 2026; AdvEn UK stated to be an unrelated company · page: 11 · as of: 2026-04-30 · amount: 300000 · debtor: AdvEn Inc. · creditor: AdvEn Inc. UK PLC (AdvEn UK) · currency: CAD · security: Convertible secured promissory note dated November 15, 2025, principal amount US$200,000; security pledged subject to Proposal Trustee's security review
- unsecured creditorsnote: Note matured August 2025; amount is aggregate outstanding including accrued interest and penalties as of April 30, 2026 · page: 11 · as of: 2026-04-30 · basis: Unsecured promissory note dated February 15, 2025, principal amount US$50,000 · amount: 100000 · debtor: AdvEn Inc. · creditor: Gustavo Perez Sanchez · currency: CAD
- unsecured creditorsnote: Loan matured August 1, 2025; amount is aggregate outstanding including accrued interest and penalties as of April 30, 2026; Ombach is also a director of the Companies per para 81 (related party) · page: 11 · as of: 2026-04-30 · basis: Short-term bridge loan agreement executed May 26/June 5, 2025, principal amount US$36,600 · amount: 60000 · debtor: AdvEn Industries Inc. · creditor: Grzegorz Ombach · currency: CAD
- unsecured creditorsnote: Preferred claim - wages in arrears typically rank ahead of ordinary unsecured claims under BIA · page: 12 · as of: 2026-06-05 · basis: Companies' books and records as reported by Proposal Trustee · amount: 700000 · debtor: AdvEn Inc. and AdvEn Industries Inc. · creditor: Employees (wages in arrears) · currency: CAD
- unsecured creditorsnote: Preferred claim - accrued vacation pay typically ranks ahead of ordinary unsecured claims under BIA · page: 12 · as of: 2026-06-05 · basis: Companies' books and records as reported by Proposal Trustee · amount: 100000 · debtor: AdvEn Inc. and AdvEn Industries Inc. · creditor: Employees (accrued vacation pay) · currency: CAD
- unsecured creditorsnote: Related party claim - payable to management · page: 12 · as of: 2026-06-06 · basis: Companies' books and records as reported by Proposal Trustee · amount: 800000 · debtor: AdvEn Inc. and AdvEn Industries Inc. · creditor: Management (compensation payable) · currency: CAD
- unsecured creditorsnote: Related party claim - payable to directors, including Ingo Mueller, Benjamin Hill, and Grzegorz Ombach · page: 12 · as of: 2026-06-06 · basis: Companies' books and records as reported by Proposal Trustee · amount: 400000 · debtor: AdvEn Inc. and AdvEn Industries Inc. · creditor: Directors (compensation payable) · currency: CAD
- secured creditorsnote: Trustee's First Report describes this note only as up to US$900,000 maximum principal (facility limit, not stated balance); counsel letter for the creditor states exact outstanding indebtedness as USD 552,445 as of/before July 20, 2026 - used as the amount per dated balance rule; disputed - creditor asserting objections to interim financing priority and SISP terms · page: 30 · as of: 2026-07-20 (advances made before this date) · amount: 552445 · debtor: AdvEn Inc. and AdvEn Industries Inc. · creditor: 2815793 Alberta Ltd. · currency: USD · security: General Security Agreement dated May 19, 2026 over all present and after-acquired real and personal property of each Applicant; PPSA registration July 9, 2026 against each of AdvEn Inc. and AdvEn Industries Inc.; grid promissory note maximum principal amount US$900,000 (per First Report, para 22(c))
- sale outcometext: SISP approval sought, not yet run · scope: whole_business · status: process_approved